FQ Tax-Managed U.S. Equity Fund

    Month Ending 2/28/2010 (%) Quarter Ending 12/31/2009 (%)
Fund/Class 1
Year		 3
Year		 5
Year		 10
Year		 Life
of Fund		 Expense Ratio 1
Year		 3
Year		 5
Year		 10
Year		 Life
of Fund
Gross Net
FQ Tax-Managed U.S. Equity Fund
Class A (No Load) Before Tax 43.53 -9.49 —   —   -3.78 1.44 1.25 19.96 -8.15 —   —   -4.17
Class A (No Load) After Tax on Distributions and Sale of Fund Shares 28.29 -7.95 —   —   -3.19 1.44 1.25 12.97 -6.84 —   —   -3.52
Class A (No Load) After Tax on Distributions 43.53 -9.56 —   —   -3.84 1.44 1.25 19.96 -8.23 —   —   -4.23
Class A with Load 35.22 -11.26 —   —   -5.19 1.44 1.25 13.10 -9.94 —   —   -5.63
Class C (No Load) Before Tax 42.48 -10.17 —   —   -4.52 2.19 2.00 19.00 -8.84 —   —   -4.91
Class C (No Load) After Tax on Distributions and Sale of Fund Shares 27.61 -8.50 —   —   -3.80 2.19 2.00 12.35 -7.41 —   —   -4.13
Class C (No Load) After Tax on Distributions 42.48 -10.18 —   —   -4.52 2.19 2.00 19.00 -8.85 —   —   -4.92
Class C with Load 41.48 -10.17 —   —   -4.52 2.19 2.00 18.00 -8.84 —   —   -4.91
Institutional Class (No Load) Before Tax 43.87 -9.40 0.35 —   1.52 1.19 1.00 20.18 -8.05 0.55 —   1.43
Institutional Class (No Load) After Tax on Distributions and Sale of Fund Shares 28.60 -7.88 0.29 —   1.27 1.19 1.00 13.12 -6.78 0.45 —   1.19
Institutional Class (No Load) After Tax on Distributions 43.81 -9.53 0.26 —   1.41 1.19 1.00 20.06 -8.20 0.45 —   1.32
Russell 3000® Index
55.96 -5.60 0.80 0.07 —   28.34 -5.42 0.76 -0.20 —  

Fund Inception
Date 		Class A Class C Institutional
  3/1/2006 3/1/2006 12/18/2000
Calendar Year
Returns		 Class A Class C Institutional Russell 3000® Index
2009 19.96% 19.00% 20.18% 28.34%
2008 -40.96% -41.36% -41.06% -37.31%
2007 9.42% 8.55% 9.75% 5.14%
2006 —   —   14.51% 15.72%
2005 —   —   15.46% 6.12%
2004 —   —   11.22% 11.95%
2003 —   —   29.29% 31.06%
2002 —   —   -19.52% -21.54%
2001 —   —   -7.36% -11.46%

Maximum Sales Charge

Class A share maximum sales charge: 5.75%

Class C share maximum sales charge: 1.00%

Disclosure

Investors should carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. For this and other information, please call 800.835.3879 or download a free prospectus. Read it carefully before investing or sending money.

The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. From time to time the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields on the Fund are net of expenses. Unlike the Fund, the index listed is unmanaged, is not available for investment, and does not incur expenses.

Figures are based on the historical highest Individual Federal tax bracket and do not consider state or local taxes or the Alternative Minimum Tax. After tax returns shown are for the Institutional class. A and C class shares are invested similarly but will have after tax performance less than that shown because of their higher expenses. Actual returns depend on an investor's situation and may differ. After-tax returns may not be relevant to investors who hold their fund shares through tax-deferred arrangements. The after-tax performance figures here may vary from figures provided by other sources if those figures include certain additional tax credits. Pre-liquidation figures include taxes on the fund’s distribution of dividends and capital gains. If the sale of shares results in a capital loss that offsets capital gains or other income, post-liquidation after-tax returns may exceed pre-liquidation after-tax returns.

Performance for periods longer than one year are annualized.

Annual expense ratio as of 03/01/2010. The Fund's Investment Manager has contractually agreed, through March 1, 2011, to limit Fund operating expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. Please refer to the Fund's prospectus for additional information on the Fund's expenses.

Risks

The Fund invests in large-capitalization companies that may underperform other stock funds (such as funds that focus on small- and medium-capitalization companies) when stocks of large-capitalization companies are out of favor. Although the Fund is managed to minimize taxable distributions, it may not be able to avoid taxable distributions.

Downloadable Documents
Fund Pricing 03/19/10
Class A
NAV: $11.70
NAV $ Change: -$0.1
NAV % Change: -0.85%
YTD Return (as of 02/28/10)
- at NAV
- with Load -4.85%
Class C
NAV: $11.50
NAV $ Change: -$0.1
NAV % Change: -0.86%
YTD Return (as of 02/28/10)
- at NAV
- with Load -0.16%
Institutional
NAV: $11.64
NAV $ Change: -$0.1
NAV % Change: -0.85%
YTD Return (as of 02/28/10)
- at NAV
- with Load
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